8,597 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by Axis Wealth Partners LLC

Axis Wealth Partners LLC purchased a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,597 shares of the real estate investment trust's stock, valued at approximately $468,000.

A number of other hedge funds have also made changes to their positions in the stock. National Pension Service acquired a new position in W. P. Carey in the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new position in W. P. Carey in the fourth quarter worth approximately $37,000. RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the third quarter worth approximately $44,000. Plato Investment Management Ltd acquired a new position in W. P. Carey in the fourth quarter worth approximately $48,000. Finally, Roxbury Financial LLC acquired a new position in W. P. Carey in the fourth quarter worth approximately $58,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on WPC shares. UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays increased their price target on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, W. P. Carey has a consensus rating of "Hold" and an average target price of $62.88.

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W. P. Carey Stock Performance

WPC stock traded up $0.78 during midday trading on Friday, hitting $64.74. The stock had a trading volume of 1,410,553 shares, compared to its average volume of 1,108,819. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 30.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $65.45. The stock has a 50-day simple moving average of $57.75 and a 200 day simple moving average of $58.19. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. W. P. Carey's dividend payout ratio (DPR) is presently 168.42%.

W. P. Carey Company Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.